PODCAST

FRV podcast: Reference rate reform

Tune in and explore the potential effects of reference rate reform with a focus on available accounting relief.

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17:07

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John Barbagallo

Managing Director, Dept. of Professional Practice, KPMG US

+1 212-954-7258

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Lisa Blackburn

Partner, Dept. of Professional Practice, KPMG US

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Mark Northan

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-6927

Podcast overview

KPMG professionals discuss ASC 848 and the relief that may be available when accounting for the transition away from LIBOR and other interest rates that are expected to be discontinued.

Applicability

Companies with contracts or hedging relationships that reference an interest rate that is expected to be discontinued (e.g. LIBOR)

Podcast contents

00:50 - Reference rate reform summary
03:55 - Optional accounting relief
10:15 - Example of applying relief
14:50 - Sunset (end) date for relief

Handbook: Reference rate reform

In-depth guidance on ASC 848’s optional relief for affected contracts and transactions.

Insight

Evolving LIBOR

Risk free rates - are you ready?

Insight

FASB issues ASU to extend relief for LIBOR transition

Entities can apply accounting relief for contracts and transactions affected by reference rate reform until Dec 31, 2024.

Insight

SEC issues reminders on LIBOR transition

Disclosures for registrants and considerations for investment professionals when recommending LIBOR-linked securities.